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A project after us tax $ cash flow is as follow ($m)
Yr 0 – (10)
Yr 1 – 3
Yr 2- 4
Yr 3 -6Only 50% can be remitted each year to uk and remaining portion at end of the project
Uk tax 30%
Us tax 20%What will be the additional tax in uk if no remittance restrictions and if there are remittance restrictions as detailed above??
Sir i m only confused about tax portion relating to remittance of cash
It depends whether tax in the UK is calculated on the foreign profits or just on the remittances. Most likely it will be on the profits in which case there will be an extra 10% charged on the profits each year (regardless of when remitted).
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